Tractor Supply Company ($TSCO) has been trending steadily higher over the last year of trading – gaining 118% during this time. The recent near-term pull-back calls for a nice buying opportunity ahead. Here’s why..
Buy Signal
The daily chart shows two new buy signals have developed over the last two sessions, which were generated by the PEMA Pull-Back system. This system looks to identify prime pull-back buying opportunities in strong-trending stocks.
Each buy signal, except one, has faired very nicely in 2011 – and the system has been on fire since last August for this stock!
If price continues to hold above the recent low of $59.73, we could see a very nice swing buying opportunity that could spark a move toward $68 over the next two weeks…with a chance to reach $70.
To learn more about this signal – and others! – check out my FREE 50-page ebook Profiting with Pivot-Based Moving Averages. Did I mention it’s free?
Let’s see how this one turns out!
Cheers!
Frank Ochoa
PivotBoss.com
Follow Frank on Twitter: http://twitter.com/PivotBoss
